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...have taken the stock down more than 20% in the past two days. Though Citi is moving aggressively to hive off assets and divisions - earlier this week it announced the merger of its Smith Barney brokerage unit with Morgan Stanley's Global Wealth Management division, a deal that will bring Citi more than $2 billion - investors are worried about worsening loan losses across the banking sector and also about Citi's ability to get decent prices on any other asset sales. Even JPMorgan Chase, which reported a small fourth-quarter profit of $702 million, was the bearer of troubling news...
Early last year, Marc Litt, an assistant U.S. attorney in Manhattan, was presented six binders of documents - hundreds of pages each - pertaining to a high-profile investigation. Lawyers wanted to know if Litt would be willing to bring what looked to be a juicy case and they wanted to meet the next...
...than Cadillac, for instance. Subaru did it without giving away the store too. For 2008, the company decided to roll back its list prices and back off the rebates. The sticker price of the 2009 Forester, for instance, was lowered to $19,995, from $21,295. "We had to bring down our incentive costs and stop selling based on the deal," says Tom Doll, executive vice president of the company, which is a division of Japan's Fuji Heavy Industries...
...sometimes works for the fashion industry - bring back an old fashion, make it new and a fad is born. This time, though, it's the automotive industry, hoping for the kind of lifestyle change that can bring car sales back from the dead. All three major U.S. auto companies have been working on plans for electric cars, and debuted some prototypes at the North American International Auto Show in Detroit this week. Ford announced that it hopes to have an all-electric vehicle, which would be able run for 100 miles on a single charge, on sale by 2011. Chastened...
...Granted, a leader’s ability to inspire shouldn’t be underestimated, and Caroline Kennedy’s star power could well bring a good chunk of federal funding to New York. But the most fundamental part of representing a constituency is voting for them. Even in times of uncertainty, Americans need to step far enough back from political celebrities to keep sight of where they are leading us. Some may be shocked to discover that admiration is not always synonymous with agreement...